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  •  Coronation Global Emerging Markets Flexible [ZAR] Fund (P)

-0.94  /  -0.24%


NAV on 2021/04/20
NAV on 2021/04/19 385.2
52 week high on 2021/02/17 427.16
52 week low on 2020/05/26 312.77
Total Expense Ratio on 2020/12/31 1.21
Total Expense Ratio (performance fee) on 2020/12/31 0.3
Incl Dividends
1 month change -3.69% -3.69%
3 month change -4.15% -4.15%
6 month change 3.68% 3.68%
1 year change 19.11% 19.11%
5 year change 12.45% 13.19%
10 year change 0% 0%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
416.38 7.24%
Construction 138.99 2.42%
General Equity 5.30 0.09%
Liquid Assets 25.72 0.45%
Offshore 5166.20 89.81%
  • Top five holdings
 NASPERS-N 416.38 7.24%
JINGDONG 340.43 5.92%
ALIBABA 309.69 5.38%
HOUSINGDEVFIN 210.81 3.66%
SAMSUNGNV 189.31 3.29%
  • Performance against peers
  • Fund data  
Management company:
Coronation Fund Managers Ltd.
Formation date:
ISIN code:
Short name:
Global--Multi Asset--Flexible
MSCI Emerging Markets index
  • Fund management  
Gavin Joubert
Head of Coronation's Emerging Markets team, Gavin has 15 years' experience as an investment analyst and portfolio manager. He has managed a range of South African equity and balanced funds and currently co-manages Coronation's Emerging Markets Fund. Prior to joining Coronation in 1999, Gavin qualified as a chartered accountant with Ernst & Young and worked for Merrill Lynch and CSFB in London.
Henk Groenewald
Henk joined Coronation as an equity analyst in 2005. Prior to this, he spent two years as a trainee equity analyst with Allan Gray and three years as an electrical engineer at Sasol. Henk co-manages the Coronation Resources Fund and Coronation's absolute return range of funds.
Paul Neetling
Lisa Haakman
Iakovos Mekios

  • Fund manager's comment

2020/02/17 00:00:00
The Global Emerging Markets Flexible [ZAR] Fund aims to give investors access to the best opportunities in emerging equity markets. The fund actively seeks out attractively valued shares to maximise long-term growth. Our intent is to outperform the emerging equity benchmark over all periods of five years and longer.
  • Fund focus and objective  
The investment objective of the portfolio is long-term capital appreciation, achieved with lower long-term volatility than available from investing in relevant equity market indices. In order to achieve this objective, the portfolio will primarily invest in equity securities of companies based in developing countries or in equity securities of any other company regardless of where it is based, if the manager determines that a significant portion of the company's assets or revenues (generally 20% or more) is attributable to developing countries. In addition, the portfolio may invest in non-equity securities of similar corporate and government issuers. The portfolio may also hold other non-equity securities, assets in liquid form and appropriate financial instruments. The portfolio will, under normal market conditions, maintain an equity bias, but no limits are placed on the asset class composition of its portfolio. The limit on offshore investments will be in accordance with the requirements for foreign portfolios as per the ACI Code of Practice for Fund Classification. In determining whether a country is an appropriate developing market for inclusion in the investment universe of the portfolio, the manager will consider such factors as the country's per capita gross domestic product, the percentage of the country's economy that is industrialised, market capital as a percentage of gross domestic product, the overall regulatory environment, the presence of government regulation limiting or banning foreign ownership, and restrictions on repatriation of initial capital, dividends, interest and/or capital gains. Developing countries in which the portfolio may invest currently include, but are not limited to, Argentina, Brazil, Chile, China, Colombia, Croatia, Czech Republic, Egypt, Hungary, India, Indonesia, Israel, Jordan, South-Korea, Malaysia, Mexico, Morocco, Pakistan, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand and Turkey. The portfolio will be actively managed and relies on the professional judgment of the investment manager to make decisions about the portfolio's investments, both in terms of stock selection and asset allocation. The basic equity investment philosophy of the manager is to seek to invest in attractively valued companies that, in its opinion, represent above-average long-term investment opportunities. The manager believes that an important way to accomplish this is through fundamental analysis, which may include meeting with company executives and employees, suppliers, customers and competitors. Securities may be sold when the manager believes that they no longer represent relatively attractive investment opportunities in the light of the investment objective of the portfolio. The manager will be permitted to invest on behalf of the portfolio in offshore investments as legislation permits. Investments are not restricted to South Africa, but non-equity securities in the currency of a country, other than South Africa, may only be included in this portfolio if it complies with the Registrar's conditions and limits for inclusion of non-equity securities in a portfolio. The portfolio may also include participatory interests or any other form of participation in portfolios of collective investment schemes or other similar schemes. Where the aforementioned schemes are operated in territories other than South Africa, participatory interests or any other form of participation in these schemes will be included in the portfolio only where the regulatory environment is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa. Nothing in this supplemental deed shall preclude the manager from varying the ratios of securities, to maximise capital growth and investment potential in a changing economic environment or market conditions or to meet the requirements, if applicable, of any exchange in terms of legislation and from retaining cash or placing cash on deposit in terms of the deed and this supplemental deed; provided that the manager shall ensure that the aggregate value of the assets comprising the portfolio shall consist of securities and assets in liquid form of the aggregate value required from time to time by the Act. For the purposes of the portfolio the manager shall reserve the right to close the portfolio to new investors. This will be done in order to be able to manage the portfolio in accordance with its mandate. This critical size shall be determined from time to time by the manager.

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